Tehran, July 20, IRNA - Iran's Petroleum Minister Bijan Namdar Zanganeh said that industrial monopoly blocks progress in research activities of some industries and companies.

Some companies and industries, like car manufacturing enterprises, do not make any efforts for innovation and research because of monopolization in the business sectors. Therefore, breaking the trend of monopoly, is key to a major change in industry-university interaction, SHANA quoted Zanganeh as saying on Sunday.

Zanganeh said that the country’s economy should become competitive, adding that the government’s more-than-enough support for industries would harm the industrial sector.

Competition should be the main driving force behind development of technology, he added.

Currently, over 90 percent of industries and companies are run by the government. This indicates privatizations have not been effective, he said.

Zanganeh said a significant plan devised by the Petroleum Ministry is to commission the administration of a number of oil reservoirs to universities.

“The Petroleum Ministry is also seeking to manufacture equipment. The manufacturing of 10 items of commodities are on its agenda now,” he said.

Tehran, June 7, IRNA -- Iran's Oil Minister Bijan Zangeneh said on Saturday that OPEC and OPEC+ have no mechanism to guarantee implementation of the agreement to cut production and the only guarantee are oil prices.

New York, June 7, IRNA -- Iran's Ambassador and Permanent Representative to the United Nations Majid Takht Ravanchi on Saturday described his US counterpart's statements as wrong, saying that Washington has no right to initiate anything under Resolution 2231.